Opinion
27 Jun 2023

Credit Risk Analyst

Are you looking to join a fast-growing fintech? 👋 Join our mission to change the banking industry for entrepreneurs for the better

We want to strengthen our organisation with the next generation of young professionals, we are looking for you who have recently finished, or about to finish your studies to join our team as a Credit Risk Analyst.

About Froda:

Froda was founded in 2015 with a clear mission – to democratize the access to financing and provide small businesses the same opportunities to grow as large ones. Through digital processes and technological innovation, we have shortened the loan process from months to minutes, making it easy for business owners to invest in their ideas.

The Role:

As a Credit Risk Analyst, your primary objective will be to identify, assess, quantify and mitigate credit risks across our portfolios. You will collaborate closely with other teams including underwriting, collections and finance. We are a small team where you'll be the third member, working alongside two experienced colleagues. You’ll therefore have the opportunity to gain hands-on experience in credit risk management and contribute to the stability of our lending portfolio.

While this is a technical role where you will work with large data sets, it also involves a lot of cross collaboration with other teams so you will need to have excellent communication skills to communicate effectively.

Your responsibilities will include:

  • Analyzing complex data and identifying patterns to uncover emerging risks, and recommend appropriate risk mitigation measures.

  • Compiling data, automating processes, building new tools, creating reports for monitoring of trends and risks.

  • Development of risk models for forecasting of credit losses and informing of sound lending decisions

  • Monitoring of macro-economic development and analysis of portfolio impact

  • Ad-hoc thematic analysis into specific topics

  • Collaboration with credit analysts, data scientists, risk and other parts of the organisation to develop our credit models, underwriting practices and risk management practices to meet the company risk appetite

To be a great fit we are seeking someone with

  • Beginning of your career

  • Fluency in Swedish and English.

  • You have a Master’s degree in Economics, Engineering or a related field.

  • Experience in SQL and Python

  • You are adept at analyzing and visualizing complex data

  • You are a fast learner who is detail-oriented, with a strong problem-solving and decision-making mindset.

Why Froda?

We are a creative tech company with a mix of ambitious and thriving individuals. Working at Froda is everything you can expect from working at a tech scale: fun and fast-paced. We work together mostly at the office, with few scheduled meetings. The culture is friendly, with a get-it-done attitude.

At Froda, you will truly have freedom under responsibility. This means that you will have the ability to impact your own work and tackle a wider set of tasks.

Furthermore, you’ll get:

  • Fabulous office with a unique view of Stockholm and the water running from Djurgården to Gamla stan.

  • Competitive compensation & benefit package.

  • Insurance and pension plan.

  • Friendly culture that values work/life balance, plus regular events that are actually fun.

Connect

Förmåner

På Froda ser vi alltid till att ta hand om den viktigaste tillgången vi har – våra anställda.
📖
Utbildning och utveckling
Budget för kurser och utbildningar
🕓
Flexibelt arbete
Fyra dagar på kontoret, en dag var du vill
🚴
Hälsa och välmående
Friskvård, försäkring och hälsoundersökningar
🌯
Lunch & learns
Inspireras av dina kollegor
🍻
Kultur
Gemensamma luncher, AWs och aktiviteter
💸
Pension
Bra tjänstepension på Avanza

General

What is Froda and who is behind it?

Froda is a Swedish credit market company based in Stockholm, Sweden, founded in 2015. By digitising the business loan process, we have made it possible to help more companies with tailored financing based on their unique business idea and operations, at market-leading terms. Froda was founded with the ambition to be a responsible creditor, with clarity and transparency regarding fees and conditions, treating its customers in an honest, fair and professional manner. Froda offers corporate loans, savings accounts for individuals and embedded financing services.

Today Froda is one of Sweden's fastest growing fintech companies and has helped more than 50,000 companies grow. In addition to corporate loans, Froda offers savings accounts for individuals and embedded financing services through Froda Embedded. Froda is a credit institution with a state deposit guarantee and is supervised by the Financial Supervisory Authority (FI). The founders are active in the company and behind the company are many well-known investors, such as Karl-Johan Persson (HM), Nicklas Storåkers (Avanza) and Victor Jacobsson (Klarna).

How does Froda's Lowest Price Guarantee work?

The guarantee means that Froda will always offer at least as low a price as our competitors. If in the last 30 days you have received an offer for a loan at a lower price from another bank than that offered to you at Froda, we will always match that price. The guarantee is otherwise subject to comparable conditions (e.g. amortisation and collateral) and covers only applications granted loans by Froda.

How does Froda differ from the alternatives?

At Froda, you don't have to choose between smooth and affordable financing, you get both. Through new technology and data-driven analytics, we have developed a service that is easy to use and saves you time and money. Therefore, we can offer business loans with the same security and affordability as the big banks, but without all the time-consuming and cumbersome administration. You also never have to worry about hidden fees, reminder fees or bond times. Interest is the only cost you pay for the loan, and if you want to pay it back early, you can do it completely free of charge.

How much can I borrow from Froda?

Froda offers business loans up to 15 000 000 SEK. On average, we grant a loan amount that corresponds to a month's turnover in your company (provided that the business is well managed). It may happen that you can borrow more or less than the amount you applied for.

Sole proprietorships, trading companies, and limited partnerships becoming customers of Froda for the first time are granted loans of up to 100 000 SEK. Sole proprietorships, trading companies, and limited partnerships that are already customers are granted loans of up to 500 000 SEK if they apply for a new loan.

What does Froda's business loan cost?

Interest rates and terms are individual and based on your business's revenue, history, and data. The interest is the only cost you will pay for the loan. There are never any additional costs such as setup, reminder, or late fees. The cost of the loan is influenced by the loan amount, the repayment period, as well as your business's turnover and creditworthiness. To find out your price, make a non-binding application. If you get a lower price somewhere else, we will match that price through our lowest price guarantee. The guarantee otherwise assumes comparable conditions.

Business Loans

How does the repayment work?

Our business loan is an annuity loan where you can choose between daily and weekly amortization. With an annuity loan, the total sum of each repayment is the same, but the interest part is higher at the beginning of the loan term, while the amortization part is smaller. As you repay the loan, the interest portion of each repayment will decrease, while the amortization portion will instead increase. The repayment of your business loan then takes place automatically via direct debit during the term of the loan.

In the case of loans over SEK 1.5 million, the loan is repaid monthly.

What does annuity loan mean?

An annuity loan means that you pay the same amount at each payment occasion throughout the loan's term. The interest portion of the repayment is higher at the beginning of the loan and then decreases over time, while the actual amortization increases.

What happens to my old loan if I increase my loan?

When you extend the loan, your old loan is combined with the new loan. So, you will not have different loans but will get a new consolidated loan with updated terms.

What does Froda's business loan cost?

Interest rates and terms are individual and based on your business's revenue, history, and data. The interest is the only cost you will pay for the loan. There are never any additional costs such as setup, reminder, or late fees. The cost of the loan is influenced by the loan amount, the repayment period, as well as your business's turnover and creditworthiness. To find out your price, make a non-binding application. If you get a lower price somewhere else, we will match that price through our lowest price guarantee. The guarantee otherwise assumes comparable conditions.

How do loans guaranteed by the European Investment Fund (EIF) work?

Froda has received enhanced support from the European Investment Fund (EIF) through the InvestEU Microfinance and Social Entrepreneurship Guarantee Programme. The programme enables Froda to lend to small business owners in order to promote growth, equality, sustainable work and social inclusion in Europe.

The EIF microguarantee means that Froda can offer business loans at discounted rates if you have a business with a maximum of 9 full-time employees and a maximum of 20 million SEK in turnover or balance sheet total. You can apply for loans of up to 565 000 SEK to be covered by the microguarantee. The discount will be activated automatically if your business meets the criteria for the guarantee.

Read more at the European Commission.

Price & Terms

Does Froda have any setup fees?

No, Froda doesn't have any setup fees or other hidden charges. Interest is the only cost of the loan.

Does it cost anything to redeem the loan early?

No, you can repay the loan at no extra cost after you make your first repayment. If you repay the loan early, you will only pay interest for the time you have had the loan. The remaining interest is written off and Froda never charges any interest difference compensation.

How do loans guaranteed by the European Investment Fund (EIF) work?

Froda has received enhanced support from the European Investment Fund (EIF) through the InvestEU Microfinance and Social Entrepreneurship Guarantee Programme. The programme enables Froda to lend to small business owners in order to promote growth, equality, sustainable work and social inclusion in Europe.

The EIF microguarantee means that Froda can offer business loans at discounted rates if you have a business with a maximum of 9 full-time employees and a maximum of 20 million SEK in turnover or balance sheet total. You can apply for loans of up to 565 000 SEK to be covered by the microguarantee. The discount will be activated automatically if your business meets the criteria for the guarantee.

Read more at the European Commission.

Application

How do I apply for a business loan from Froda?

You apply directly at froda.se. The only thing you need to do is fill in your contact details, identify yourself with BankID and adjust your loan according to your preferences. In most cases, we can collect all the data we need automatically and give you an answer to your application directly.

What is the amortization period offered by Froda?

We offer up to 60 months of amortization period. You decide for yourself how long the amortization period you want when you apply, and how long an amortization period you can choose varies from company to company.

Do you take any credit information from UC (Upplysningscentralen)?

No, as a basic rule, we do not take any UC. Instead, we take information from Creditsafe that does not affect your company's creditworthiness.

However, in the case of loan amounts exceeding SEK 5 million, we will take a UC on the company to supplement the credit report from Creditsafe.

How long is an offer from Froda valid?

If you have had your application approved, your offer is valid for 30 days from the date you received it.

Where can I follow the status of my application?

You can view the status of your application by logging in to My Pages. In addition, we will always get back to you within 24 hours with an answer to your application and whether it needs to be completed or not.

Is the application binding?

No, the application is not binding and it does not cost anything to apply.

Does the loan have any binding period?

No, the loan has no binding period. You can repay it in full whenever you want, without any additional cost.

Does Froda offer start-up loans?

Froda does not offer loans to start businesses but can in some cases offer loans to newly founded businesses. To be able to offer a loan to a new business, the business needs to have started sales in order for us to be able to make an assessment based on the turnover.

How much can I borrow from Froda?

Froda offers business loans up to 15 000 000 SEK. On average, we grant a loan amount that corresponds to a month's turnover in your company (provided that the business is well managed). It may happen that you can borrow more or less than the amount you applied for.

Sole proprietorships, trading companies, and limited partnerships becoming customers of Froda for the first time are granted loans of up to 100 000 SEK. Sole proprietorships, trading companies, and limited partnerships that are already customers are granted loans of up to 500 000 SEK if they apply for a new loan.

Do I need to prepare any documentation to apply?

No, you do not need to prepare anything to apply as all the information we need to process your application will be automatically collected when you apply.

Why was my application rejected even though I have an available loan amount on My Pages?

The available loan space is based on your business's latest transaction history and current loans, but does not take other parameters into account, hence why it's preliminary. Unfortunately, we cannot guarantee that a loan will be granted until we have made a credit assessment on a complete loan application.

What information does Froda need?

Our assessment is based on a combination of transaction data and creditworthiness. You do not need to send in a business plan or other documentation to apply for a business loan at Froda, as all the information we need is collected automatically. All you need to do is fill in your details, adjust your loan according to your preferences, and give us permission to see your business's transaction history from your bank so we can make a credit assessment.

How long does it take before I have the money in my account?

The loan disbursement is prepared immediately after you have signed your agreement. Assuming you have provided the correct account details in the application, you will have the money in your account by the next banking day at the latest.

Who is considered the ultimate beneficial owner?

People who own more than 25 percent of a company are considered the ultimate beneficial owners.

How long does it take to get a response to my application?

If we have received all the information we need, we will get back with a decision by the next banking day at the latest. If we need more information, we will always respond within 24 hours by phone or email to supplement your application.

Features

Can I increase my amortization?

Yes, you can increase your amortization under "manage loan" on My Pages.

Can I update my transaction data without submitting an application?

You can update your transaction data on My Pages. Under "update bank data" in the menu, click "update" and follow the steps to get an updated available loan space.

What does it mean that I have an available loan amount?

The available loan space is the amount we estimate you could increase your business loan by. The space is based on your transaction history and your existing loan but does not take any other parameters into account. The available space is only an estimate and we cannot guarantee that your application will be approved until we have made a complete assessment when you apply. The amount you are offered can be both higher and lower than what the space indicates.

Can I pause my amortization?

Yes, you can pause your amortization at the "manage loan" tab in My Pages. Click on "pause amortization" and set for how many weeks you want the pause to apply. The pause is activated once you've signed the agreement sent via SMS. You can pause the amortization as often as you like, but for a maximum of 6 months. How long of a pause you can apply for varies from company to company, but all of Froda's customers have the option to pause for up to 8 weeks.

Why is there a red box on My Pages?

There could be several reasons for for having a red box on My Pages. For example, your application might have been declined, you might be behind on payments, or we might currently be unable to offer your company a loan due to a debt balance with the Enforcement Authority or similar.

How can I see if I have room to increase my loan?

You can see how much available loan space you have directly when you log in to My Pages. If you want to increase your loan, press "borrow more" and enter how much you want to increase the loan with.

Can I see the status of my application?

You can check the status of your application by logging into My Pages.

Where can I find my accounting material?

All your monthly reports are available to download under "accounting material" in the menu on My Pages. Reports for the previous month are generated and available to download on the 1st of each following month. At the end of the year, an annual report is also generated.

Can I give my auditor access to my monthly reports?

Yes, on My Pages, you can add users and control which permissions users have under "manage users" in the menu.

Security

Who can act as guarantors for the loan?

Only individuals with a connection to the company, such as board members or beneficial owners, can act as guarantors for the loan.

What does personal guarantee mean?

A personal guarantee means that one or more individuals take on the financial responsibility for someone else. For business loans, a personal guarantee is sometimes used as security for the loan where the owner, or someone else, guarantees the loan for the company. This means that the guarantor becomes personally responsible for repaying the loan if the company is unable to do so.

Does Froda require any collateral?

We approve various types of collateral. The most common is personal guarantee by the borrower, but for larger loan amounts, you can also pledge different types of collateral, such as a mortgage on property or a corporate mortgage. If you run a partnership or sole proprietorship, you are always personally liable for the company's debts.

What types of collateral does Froda accept?

We apply personal guarantees to all loans that are less than 1.5 million kronor. For loan amounts exceeding 1.5 million kronor, we accept other types of collateral, such as corporate mortgages or real estate.

Trust

What is the difference between a bank and a credit market company?

The biggest difference between a bank and a credit market company is that a credit market company does not need to be connected to any payment system and therefore does not offer payments, card solutions, or transaction accounts.

Why do I need to authenticate myself with BankID?

You need to identify yourself with BankID when applying for a business loan in order for us to be able to ensure that you are who you claim to be and to know if you have the right to represent the company you are applying for. The credit assessment also analyzes your company's transaction data and in order for this to be done, we need your consent to do so. BankID is the solution Froda uses to carry out identification and consent to read transaction data.

What is a credit market company?

A credit market company is a company that has permission from the Financial Supervisory Authority to conduct financing activities through the borrowing and lending of money.

About Froda

Does Froda offer personal loans?

No, Froda only offers business loans.

How does Froda's Lowest Price Guarantee work?

The guarantee means that Froda will always offer at least as low a price as our competitors. If in the last 30 days you have received an offer for a loan at a lower price from another bank than that offered to you at Froda, we will always match that price. The guarantee is otherwise subject to comparable conditions (e.g. amortisation and collateral) and covers only applications granted loans by Froda.

Does Froda have a checking credit or account credit?

No, Froda only offers business loans.

What services does Froda offer?

Business Loans

We offer a completely digital business loan, adapted to fit into the everyday life of the small business owner. By digitizing the process, we save time, money and energy for entrepreneurs in need of financing. With our business loans, you get rid of all the cumbersome paperwork, time-consuming meetings and manual assessments. Instead, you get to apply when and where you want, you get an objective and fair assessment of your turnover and you get access to the funding when you need it.

Savings accounts

Froda offers simple and secure savings without any fixed fees both variable and tied interest. All our savings accounts are covered by the government deposit guarantee.

Who can borrow from Froda?

To obtain a business loan from Froda, you must have a Swedish-registered company that is operated either as a sole proprietorship, trading company, limited partnership or limited liability company. Unfortunately, we do not lend to financial associations or foundations. Usually, your business needs to have been up and running for a few months in order for us to do a full analysis of your application.

Our minimum credit rating requirements are in place to create good conditions for you to be able to repay the loan without straining the company's finances.

How does Froda differ from the alternatives?

At Froda, you don't have to choose between smooth and affordable financing, you get both. Through new technology and data-driven analytics, we have developed a service that is easy to use and saves you time and money. Therefore, we can offer business loans with the same security and affordability as the big banks, but without all the time-consuming and cumbersome administration. You also never have to worry about hidden fees, reminder fees or bond times. Interest is the only cost you pay for the loan, and if you want to pay it back early, you can do it completely free of charge.

What is a loan company?

A loan company is either a credit company or a bank that has received approval from the Financial Supervisory Authority to carry out lending activities. It can be anything from credit companies, big banks to niche banks. Any company or business that lends money against interest rate are loan companies.

Froda is a loan company that offers fully digital business loans tailored to the needs of small and medium-sized businesses. By digitizing the process, we can not only simplify the application process for you, we can also significantly shorten the process from application to payment. When you apply for a business loan with Froda, you will be notified within 24 hours and the loan will be paid no later than the next business day.

Find out how Froda can help you and your business grow by applying here.

What is the average interest rate at Froda?

As several parameters play into the pricing of business loans, the interest rate can differ by several percentage points from loan to loan. Therefore, the average interest rate can provide a misleading comparison, which is why Froda does not use it as a measure. The interest rate your business gets is affected by loan amount in relation to turnover, duration, and credit rating, among other things.

Where can I find a copy of my contract?

You can download your agreement under “Copies of signed agreements” in the menu once logged in.

Does it cost anything to make an additional amortization?

No, it costs nothing to make an additional amortization. On the contrary, you lower the total cost of the loan by making an additional amortization.

Hur fungerar Frodas nöjdhetsgaranti?

Om du mot förmodan inte skulle vara nöjd med ditt lån hos Froda kan du när som helst betala tillbaka lånet utan extra kostnad.

What is Froda and who is behind it?

Froda is a Swedish credit market company based in Stockholm, Sweden, founded in 2015. By digitising the business loan process, we have made it possible to help more companies with tailored financing based on their unique business idea and operations, at market-leading terms. Froda was founded with the ambition to be a responsible creditor, with clarity and transparency regarding fees and conditions, treating its customers in an honest, fair and professional manner. Froda offers corporate loans, savings accounts for individuals and embedded financing services.

Today Froda is one of Sweden's fastest growing fintech companies and has helped more than 50,000 companies grow. In addition to corporate loans, Froda offers savings accounts for individuals and embedded financing services through Froda Embedded. Froda is a credit institution with a state deposit guarantee and is supervised by the Financial Supervisory Authority (FI). The founders are active in the company and behind the company are many well-known investors, such as Karl-Johan Persson (HM), Nicklas Storåkers (Avanza) and Victor Jacobsson (Klarna).